The ocean's waves harbor tremendous amounts of raw energy and represent the single largest untapped source of renewable energy. Converted into electricity, wave energy could potentially satisfy all of current global power demands.
It is estimated that 0.1% of the energy in ocean waves can supply the entire world's energy requirements five times over. However, there are only a few commercial wave energy harnessing facilities in the world at the moment. No-one has yet managed to produce wave energy harvesting machines that can withstand the rough and tumble of the seas and produce electricity round the clock for sustained periods.
Once the wave energy is harvested, an industrial or grid scale energy storage system is needed to manage the power. Energy storage is needed to “balance load” and to shift energy consumption into the future, often by several hours, so that more existing generating capacity is used efficiently. The energy storage is used to “bridge” power to ensure there is no brake in service during the seconds-to-minutes required to switch from one power generation source to another. The “power quality management” controls the voltage and frequency to avoid damage to sensitive equipment. Energy storage is also important at the grid scale. It fundamentally improves the way electricity is generated, delivered and consumed. It helps during emergencies like power outages from storms, equipment failures, accidents or even terrorist attacks. But the game-changing nature of energy storage is its ability to balance power supply and demand instantaneously, which makes power networks more resilient, efficient and cleaner.
There are six main energy storage systems deployed around the world:                Solid State Batteries—a range of electrochemical storage solutions, including advanced chemistry batteries and capacitors. Batteries are the most common form of energy storage. However, they are expensive to acquire and maintain, and involve risks of environmental damage.        Flow Batteries—batteries where the energy is stored directly in the electrolyte solution for longer cycle life, and quick response times.        Flywheels—mechanical device that harness rotational energy to deliver instantaneous electricity.        Compressed Air Energy Storage—utilizing compressed air to create a potent energy reserve, techniques of storing air and liquids under pressure for later release are usually limited to small installations used to drive a motor or pump for a limited time and application.        Thermal—capturing heat and cold to create energy on demand.        Pumped Hydro-Power—creating large-scale reservoirs of gravitational energy with water.        
Some companies are currently creating gravitational systems that move gravel-loaded railroad cars up the side of a hill and when energy is needed, the gravel-loaded cars are released and their downhill ride drives a mechanical system that drives a generator and generates electricity.
Each of these prior art energy storage techniques have their advantages and limitations depending on the availability of water, varying elevations, and availability of technical service for frequent maintenance.
Currently the most common type of energy storage is pumped hydroelectric facilities. This utility-scale gravity storage technology has been employed for the better part of the last century in the United States and around the world. Pumped hydro-power facilities use pumps to elevate water into a retainer pool behind a dam, creating an on-demand energy source that can be unleashed rapidly. When the grid needs more energy, the water is released to drive turbines at lower elevation to produce electricity.
The main disadvantage of pumped hydro is the special nature of the site required, needing both geographical height and water availability. Suitable sites are therefore likely to be in hilly or mountainous regions, and potentially in areas of outstanding natural beauty, and therefore there are also disturbing social and ecological issues.
The power storage module of the present invention shares similar technique and performance characteristics to pumped-hydro power and is directed mainly to utilities to help lower the price of peak demand power, prevent outages, and reduce the need to build new distribution and transmission lines. The cheap bulk energy storage can add flexibility to the energy system overall. It can help nuclear power follow the curve of electrical demand. It can also help the grid stay available and stable.
Especially for solar and wind power plants, cheap bulk energy storage can be a force multiplier. The invention can help the grid soak up extra solar power for the hours after sunset. It can soak up extra wind power from a breezy morning to use in the afternoon peak or it can dispatch saved up power to cover for an unexpected degree of cloudiness or a shortfall of wind.